The unadulterated gold standard is a free market in money, credit, interest, and discount based on the right of the people to hold and use gold coins, and which includes Real Bills and bonds.
Let’s hope that Mr. Greenberg’s lawsuit will expose the Treasury’s dirty laundry as a catalyst to reopening alternatives to the false hope of inflating a new bubble.
Being reserve currency resides as much in trust as in any other factor, and taking this step, of minting coins to pay debt and avoiding the political process, will just further encourage other countries to move away from the dollar and dollar based assets.
The world needs the unadulterated gold standard.
In light of today’s Fed decision…
Reports have recently been released that throw particular light on the degree to which central banks around the world are accumulating gold.
Both Congress and the President readily admit that without an increase in the debt ceiling, the government will default on its obligations.
The elevation of taxpaying into an act of patriotism seems a stretch for most Americans.
On the eve of this evening’s US presidential debate and with two weeks to go before the election, we thought it would be fitting to publicly endorse our favorite candidate – the Realist.
There should be very little pretense among objective observers that last week’s perpetual QE announcement could actually provide real economic stimulation.
Higher taxes for those on higher incomes and the wealthy to finance the costs of the crisis and cut budget deficits are being debated in the euro area – including Germany. Several countries have already taken action. If countries decide in favour of the state imposing such taxes, they face a difficult balancing act. Beside the fiscal and distributional targets and hopes, it has to be borne in mind that attention is to be paid to the risks to economic growth, which may result from negative incentive effects, and balance them against the former.
Essays on Fictitious Capital, Debt Deflation and the Global Crisis.